Welsh Liberal Democrats

Thousands of pensioners stand to benefit from today's Queen's Speech, with a fair flat-rate pension for all.

The Queen announced a reform of the pensions system, ending the confusion state pension provision by introducing a single, flat-rate pension. This is in addition to the triple lock, championed by the Liberal Democrats, which has ensured record rise in the state pension of £12.50 a week since 2010. The triple lock will continue to safeguard an increase in the state pension in line with earnings, inflation or 2.5% - whichever is higher.

'The Queen's Speech shows the influence Liberal Democrats have in the Coalition Government. Our priority to build a stronger economy in a fairer society is clear in these reforms.

'For too long, pensioners and those who need care have received a raw deal and the previous Labour government refused to act and take responsibility. Instead, Gordon Brown gave pensioners an insulting 75p rise in their state pension.

'Today's reforms will ensure thousands in Wales will have dignity in old age with a fair, single-tier pension.'